SG Americas Securities LLC Has $6.19 Million Stake in RB Global, Inc. (NYSE:RBA)

SG Americas Securities LLC lifted its position in RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 348.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 81,076 shares of the business services provider’s stock after purchasing an additional 63,007 shares during the quarter. SG Americas Securities LLC’s holdings in RB Global were worth $6,191,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. YHB Investment Advisors Inc. acquired a new position in shares of RB Global in the first quarter valued at $27,000. Oakworth Capital Inc. raised its stake in shares of RB Global by 53.3% in the fourth quarter. Oakworth Capital Inc. now owns 466 shares of the business services provider’s stock valued at $31,000 after purchasing an additional 162 shares in the last quarter. Hollencrest Capital Management acquired a new position in RB Global during the first quarter worth $33,000. Massmutual Trust Co. FSB ADV raised its stake in RB Global by 58.7% during the second quarter. Massmutual Trust Co. FSB ADV now owns 446 shares of the business services provider’s stock worth $34,000 after acquiring an additional 165 shares in the last quarter. Finally, GAMMA Investing LLC acquired a new position in RB Global during the fourth quarter worth $54,000. 95.37% of the stock is currently owned by institutional investors and hedge funds.

RB Global Price Performance

Shares of RBA stock traded up $0.65 during trading hours on Friday, hitting $78.94. 814,690 shares of the company’s stock were exchanged, compared to its average volume of 954,301. The stock’s 50-day moving average is $77.85 and its 200-day moving average is $74.53. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.29 and a quick ratio of 1.17. The stock has a market cap of $14.43 billion, a price-to-earnings ratio of 47.55, a price-to-earnings-growth ratio of 5.36 and a beta of 0.91. RB Global, Inc. has a 52 week low of $55.67 and a 52 week high of $81.87.

RB Global (NYSE:RBA) (TSE:RBA) last posted its quarterly earnings results on Tuesday, August 6th. The business services provider reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.06. The business had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.13 billion. RB Global had a return on equity of 7.27% and a net margin of 8.67%. The firm’s quarterly revenue was down .9% compared to the same quarter last year. During the same quarter last year, the business earned $0.42 earnings per share. As a group, research analysts forecast that RB Global, Inc. will post 2.04 EPS for the current year.

RB Global Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 18th. Investors of record on Wednesday, August 28th will be issued a $0.29 dividend. This is a boost from RB Global’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend is Wednesday, August 28th. This represents a $1.16 annualized dividend and a yield of 1.47%. RB Global’s dividend payout ratio (DPR) is currently 65.06%.

Insider Activity at RB Global

In related news, CEO James Francis Kessler sold 8,000 shares of the firm’s stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $80.91, for a total value of $647,280.00. Following the transaction, the chief executive officer now owns 78,104 shares in the company, valued at $6,319,394.64. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other RB Global news, CRO James J. Jeter sold 14,000 shares of the firm’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $75.43, for a total transaction of $1,056,020.00. Following the transaction, the executive now owns 28,267 shares in the company, valued at $2,132,179.81. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO James Francis Kessler sold 8,000 shares of the firm’s stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $80.91, for a total value of $647,280.00. Following the transaction, the chief executive officer now owns 78,104 shares in the company, valued at approximately $6,319,394.64. The disclosure for this sale can be found here. Insiders have sold a total of 43,867 shares of company stock worth $3,370,272 over the last 90 days. Insiders own 4.32% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on RBA. Raymond James increased their price objective on RB Global from $95.00 to $98.00 and gave the stock an “outperform” rating in a research note on Thursday. CIBC began coverage on RB Global in a research note on Tuesday, June 18th. They set a “sector outperform” rating and a $95.00 price objective for the company. Scotiabank increased their price objective on RB Global from $88.00 to $89.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, April 24th. Bank of America increased their price objective on RB Global from $68.00 to $79.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 28th. Finally, Royal Bank of Canada increased their price objective on RB Global from $93.00 to $99.00 and gave the stock an “outperform” rating in a research note on Wednesday. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $88.43.

RB Global Company Profile

RB Global, Inc, an omnichannel marketplace, provides insights, services, and transaction solutions for buyers and sellers of commercial assets and vehicles worldwide. Its marketplace brands include Ritchie Bros., an auctioneer of commercial assets and vehicles offering online bidding; IAA, a digital marketplace connecting vehicle buyers and sellers; Rouse Services, which provides asset management, data-driven intelligence, and performance benchmarking system; SmartEquip, a technology platform that supports customers' management of the equipment lifecycle; and Veritread, an online marketplace for heavy haul transport solution.